HONG KONG, Jan. 20, 2016 /PRNewswire/ -- Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK), the largest e-commerce platform serving the electronics manufacturing industry in China, today announced that it has resumed its repurchase program (the "Repurchase") to buy back Cogobuy's issued and outstanding shares.
The Company has determined that the current market price of the Company's shares represents an attractive opportunity for it to recommence the repurchasing of shares in the open market pursuant to the General Mandate to Repurchase Shares approved by shareholders of the Company on June 2, 2015, and to direct the Trustee to acquire shares pursuant to the allocation of funds announced at the end of 2014. The repurchased shares will be cancelled and the acquired shares will be used to satisfy future awards under the Restricted Share Units (RSU) scheme.
About Cogobuy Group
Cogobuy Group is the largest e-commerce service platform serving the electronics manufacturing industry in China. Through the e-commerce platform, which includes a direct sales platform, an online marketplace, and a dedicated team of technical consultants and professional sales representatives, the Company provides customers with comprehensive online and offline services across pre-sale, sale, and post-sale stages. The Company serves mainly SME electronics manufacturers.
For further information, please refer to the Company's website at http://www.cogobuy.com/.
INGDAN.com is a platform dedicated to connecting global intelligent hardware entrepreneurs and China-based supply chain resources. The platform provides information on hardware innovation, supply chain data, and supply chain demand docking for global IoT innovators and entrepreneurs. It is a one-stop hardware innovation business platform with its core being the "supply chain."
For further information, please refer to the Company's website at http://www.ingdan.com/.
SOURCE Cogobuy Group